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1.Your hospital has billed charges of $4,000,000 in February. If your collection experience indicates that 20% is paid in the month billed, 40% in the
1.Your hospital has billed charges of $4,000,000 in February. If your collection experience indicates that 20% is paid in the month billed, 40% in the second month, 20% in the third month, and 5% in the fourth month, determine the following values:
(a) Net patient revenue for February
(b) Collections of charges in February
(c) Net accounts receivable at the end of March for February billings
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